Central Coast Postcode 2259 and 2261 Property Factsheet 1st Half 2019

Over the past 12 months to Q4 2018, the Central Coast area, particularly that of postcodes 2259 and 2261 recorded a median house price of $600,000. This reflected an annual (Q4 2017 – Q4 2018) softening of -3.2%. Median unit price slightly decreased, by -1.3% to $430,000 during this time frame. By comparison the Central Coast 2^nd half 2018 Research Factsheet reported a 4.7% median price growth for house and stable growth for units between Q3 2017-Q3 2018. The Central Coast property market has become more affordable.  

Over the same period (Q4 2017-Q4 2018), median house prices in Central Coast (LGA) also softened, by -3.0% to $640,000. Meanwhile median unit prices slightly strengthened by 0.2% to $505,000. Compared to Central Coast LGA, houses and units in the postcodes 2259 and 2261 are more affordable. First home buyers and investors need to take advantage of this opportunity.

Average vendor discounting between Q4 2017 and Q4 2018 has widened from -2.7% to -5.4% for houses and from -2.6% to -4.3% for units. Now is the time to transact in the market, as buyers can benefit from higher discounts while sellers can minimise risks.

Median house rent prices in postcodes 2259 and 2261 has softened by -2.2% over the past 12 months to Q4 2018, to $450 per week. Whereas median unit rents strengthened by 5.6% to $380 per week. Investors are benefitting from quick rental uptake as vacancy rates were at a low 1.5% as of December 2018. Furthermore, rental yields in postcodes 2259 and 2261 are at 3.9% (house) and 4.9% (unit), which are higher than Sydney Metro’s 2.9% (house) and 3.8% (units). This makes the area a perfect market to start an investment portfolio.